A test of investors’ patience

IN late September, China introduced a sweeping set of stimulus measures, encompassing monetary easing, fiscal boosts and support for the property market. This policy shift has stirred significant volatility in Chinese assets, revealing a divergence in views on the effectiveness of the stimulus.

While China’s equity markets have rallied notably since then, traditional China-linked assets like the Australian dollar and commodities have lagged, signalling that the impact of the stimulus may be different from past efforts.